Renting out my house that isn't selling
Hey all -
I have a home that's been on the market for about 6 months now and there has been no movement on it despite price drops to a point that I don't want to drop further. I am living in my now primary residence while this other home is just sitting. I'm new to the real estate and rental space but am considering putting the house for rent to see if there are any takers with that route instead. I would be losing about $300-400/mo by renting it out but this would at least take away a little of the pain of two mortgages until I can re-attempt selling it at a more prime time. I'm just trying to toss around pros/cons as to whether this is a way (although not great) of getting into the rental game or is it best to just wait it out longer for a potential sale.